CHENNAI: The Directorate of Vigilance and Anti-Corruption (DVAC) has registered a case against former T Nagar AIADMK MLA B Sathyanarayanan for possession of assets disproportionate to his known sources of income and searches are going on in 18 premises, including 16 locations in Chennai on Wednesday.
One place in Tiruvallur and Coimbatore is also under the DVAC scanner, a press release from the agency said.
DVAC said that the former T Nagar MLA had assets worth Rs 3.2 crore at the beginning of the check period in 2016.
He and his family member had acquired assets worth Rs.16.4 crore by the end of the check period in 2021.
He had generated income worth Rs 16.18 crore during the check period through known sources of income, including salary, investment in agricultural land, rental, and business income.
Sathyanarayanan had an expense of around Rs.5.59 crore during the same period and the value of assets acquired by the former MLA and his family members during the check period stood at Rs.13.2 crore.
DVAC also pegged the likely savings of Sathyanarayanan and his family members at Rs.10.58 crore during the same check period.
The agency says that the ex-MLA of AIADMK had a disproportionate wealth worth Rs. 2.64 crore, which is 16 per cent over the income from the known sources.